When clients deal with Anthony and Gerry DiMarco, they realize they are working with two people committed to the self-storage industry for the long term. The brothers are the principals of Security Mortgage Group, founded in 1989. Headquartered in Rochester, N.Y., the company offers financial services to clients nationwide from its home office.
Anthony, a Villanova graduate, has been active in the real estate industry since 1996. In 1997, he energized Security Mortgage Group’s push into the self-storage industry and, since then, has closed loans on more than 125 institutional-grade properties. Gerry DiMarco Jr. joined the company in 1992. He received an MBA from the William E. Simon Graduate School at the University of Rochester, with a major in finance, and an undergraduate degree from Holy Cross, with a degree in economics and history. He has financed more than 250 multifamily and manufactured-home communities.
Gerry is proud of the growth the company has accomplished in just over a decade. “Our lender relationships have grown deeper as our trust with our clients has grown stronger,” he says. “We have closed more than $2 billion in deals—not bad for two guys.”
Security Mortgage is a family-owned business. “This is our livelihood,” Gerry says. “We take it very seriously and are always available.” The company’s mission is to work harder than anyone to make sure clients are treated properly. The brothers’ dedication to the company and its clients means they fight hard for customers, not big lending institutions. “You will not be working with a back-office functionary to get your deal closed when you work with us. This distinguishes Security Mortgage Group from the competition,” Gerry says proudly.
Meeting Industry Needs
The needs of small businesses are understood by Security Mortgage because it is also a small business, says Gerry. Although the company has only five employees, all are committed to providing self-storage owners with the best mortgage financing.
“We realized many years ago that this was a very misunderstood property type,” Gerry says. “Self-storage has been ignored by many local banks and national life-insurance companies. We are tapping into nonrecourse, fixed-rate financing. This allows our clients to focus on managing their properties, not on interest-rate fluctuations.” The company finds out a client’s requirements, and then works to tailor a loan to meet those needs. Certain factors are pinpointed, including a no personal guarantee, low costs, fixed rates and amortizations.
Gerry assesses the storage industry as strong and vibrant. Though money should continue to flow into the business, there will always be consolidations and shakeouts for some who cannot make it. “We believe locking in long-term rates at today’s levels will ensure the lasting profit and competitiveness of our clients,” he says.
The company’s key business plan is to make sure customers know they are dealing with people who keep their word, who understand and act quickly on clients’ requirements. “We do not want to be tarnished by the sub par culture of other companies,” Gerry says. “We advertise and attend many conferences. Most of our deals come from referrals and repeat customers. This is our proudest accomplishment. Our philosophy is to always be available, over-deliver on promises and make sure we understand the needs of our clients.” For more information, call 585.423.0230.